Baxter International Inc. (NYSE:BAX) Short Interest Up 27.0% in April

Baxter International Inc. (NYSE:BAX) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 9,680,000 shares, an increase of 27.0% from the March 31st total of 7,620,000 shares. Based on an average trading volume of 3,530,000 shares, the short-interest ratio is currently 2.7 days.

Analyst Ratings Changes

A number of research firms have weighed in on BAX. UBS Group decreased their target price on shares of Baxter International from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Bank of America upped their price target on shares of Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. Barclays lifted their price objective on Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. StockNews.com raised shares of Baxter International from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Finally, Citigroup increased their price objective on shares of Baxter International from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.30.

Hedge Funds Weigh In On Baxter International

Several hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB grew its position in Baxter International by 6.0% during the third quarter. Handelsbanken Fonder AB now owns 201,819 shares of the medical instruments supplier’s stock valued at $7,617,000 after acquiring an additional 11,456 shares during the period. Valeo Financial Advisors LLC raised its position in shares of Baxter International by 33.8% during the 3rd quarter. Valeo Financial Advisors LLC now owns 7,063 shares of the medical instruments supplier’s stock worth $267,000 after purchasing an additional 1,785 shares during the period. Bank of New York Mellon Corp grew its stake in Baxter International by 69.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,491,343 shares of the medical instruments supplier’s stock worth $244,983,000 after buying an additional 2,650,959 shares during the last quarter. Lindbrook Capital LLC increased its position in Baxter International by 8.2% in the third quarter. Lindbrook Capital LLC now owns 4,214 shares of the medical instruments supplier’s stock worth $159,000 after buying an additional 318 shares during the period. Finally, Graypoint LLC lifted its stake in Baxter International by 154.7% in the third quarter. Graypoint LLC now owns 13,573 shares of the medical instruments supplier’s stock valued at $512,000 after buying an additional 8,245 shares during the last quarter. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

Baxter International Trading Down 0.4 %

Shares of NYSE BAX traded down $0.17 during mid-day trading on Tuesday, reaching $40.47. 322,258 shares of the company’s stock were exchanged, compared to its average volume of 3,579,640. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.04 and a current ratio of 1.48. The company’s 50-day moving average is $41.81 and its 200-day moving average is $38.65. Baxter International has a 52-week low of $31.01 and a 52-week high of $50.21. The firm has a market capitalization of $20.55 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 2.16 and a beta of 0.62.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, February 8th. The medical instruments supplier reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.02. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Baxter International had a return on equity of 19.49% and a net margin of 17.77%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. Analysts expect that Baxter International will post 2.89 EPS for the current fiscal year.

Baxter International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, February 29th. Baxter International’s dividend payout ratio (DPR) is 22.22%.

About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.